Canada appears poised to grant the country's Liberal Party another term as the dominant faction in their parliament. This outcome follows a radical shift in the race's focus due to US President Trump's tariffs and annexation threats, propelling Mark Carney's party into its second decade of power.

Despite it being his maiden run for public office, former banking bureaucrat Mark Carney showed no signs of inexperience. He comfortably secured his Ontario seat of Nepean, outperforming his Conservative rival by a two-to-one margin.

In the broader federal election, the Liberals emerged as the undisputed frontrunners mere hours after Monday's polls closed. However, it remains uncertain whether the resurgent governing party can form a majority, with both major parties seemingly sidelining smaller factions like the Greens.

The Liberals will need to clinch at least 172 seats in Canada's parliament or attempt to forge a coalition with other parties.

It's been a rollercoaster year for the victors of this election, lagging significantly behind the Conservatives while former PM Justin Trudeau was still in power.

However, following the Liberal leader's resignation in March and Mark Carney's subsequent challenge against the US' increasingly expansionist rhetoric, Canadians seem to have granted the party another mandate to govern.

Carney's assertive stance towards their southern neighbour, where he robustly responded to President Trump labelling Canada as the US's 51st State, was a stark contrast to his Conservative rival in an election centred on cost-of-living issues and an impending trade war with their biggest trading partner.

The Liberals have pledged to use tax revenues to diversify the country away from its dependence on American trade, a promise that the former Bank of England Governor will now have to fulfil.

According to CTV, Mark Carney's global finance experience also seemed to reassure voters, with Canadians hoping that the ex-banker can combat Trump's hefty tariffs and the ongoing affordability crisis faced by ordinary citizens.

Preliminary results suggest that the Liberals are projected to secure around 160 seats, while the opposition Conservatives are predicted to get around 150. The NDP appear to be almost obliterated with a forecasted 15 seats.

However, exit polls indicate that Carney's party saw some of its anticipated lead diminish on voting day, with their path to a majority becoming narrower.